Australian digital bank UBank provides new bot chat to reply to home loan application queries

15 May 2017

Australian direct bank UBank, operating banking license and using the balance sheet of the National Bank of Australia, is introducing its new interactive service for households seeking to obtain an information on potential home loan applications for correct filing of the documents. The new platform will be known as RoboChat and it will be based on IBM’s Watson Conversation API.

RoboChat will be providing response back to queries entered by the bank account holders across a host of categories and topics, wording the information in the conversational language. CEO of UBank Lee Hatton notes that the company is pursuing to provide more convenient and smarter banking to their customers and RoboChat is here to achieve that objective delivering simple pre-application procedure. Hatton further adds that if an application has already gathered all required documents, the process of filling out the application will take as little time as people usually spend for breakfast.

Watson has analyzed a large volume of data from the questions usually raised by customers with thousands of queries and replies integrated into the RoboChat. Hatton says that the new service will be a great supplement to their range of interactive customer support services, while the bank will still have its personnel available online, over the phone or email to customers seeking human presence.

UBank is a Sydney-based company launched in 2008. As of October 2015, UBank had $15.7 billion of customer deposits and $3.6b of mortgages.